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Niner to be acquired by investment firm Emersion

Published February 20, 2018
Niner co-founders Steve Domahidy (center) and Chris Sugai (right) with former president George W. Bush after a ride in Kennebunkport, Maine, in 2010.

FORT COLLINS, Colo. (BRAIN) — Investment company Emersion International Limited has agreed to purchase Niner Bikes. Chris Sugai, co-founder of the brand, will remain as president and there will be no change to the Colorado-based team or the international distribution network, the company announced

“We had been looking for an investor that would allow us to take advantage of what we’ve built as a company while providing the resources to maintain our competitive edge,” Sugai said in a press release. “EIL is a great fit for us because it recognizes our future potential and will enable us to operate independently.” 

Sugai told BRAIN on Tuesday morning that the sale closes in two to three weeks and he couldn’t say anything more until then. “I’ll have a lot more to share after we close,” Sugai said.

Niner currently has 31 employees, all located at the Fort Collins headquarters. No changes are planned for the Fort Collins team or its independent bicycle dealer and international distribution network, the company said in the release.

“Our long-term growth strategy requires a partner with the resources to invest in R&D and better serve our customers and riders. We strongly believe in the growth opportunities in the premium, off-road cycling market. The investment of EIL positions us for future growth,” Sugai stated.

“EIL was attracted to us because of our strong brand and record of success. Its investment will allow us to strengthen our presence in the independent bike dealer network, including in the international market,” he added. 

Financial details of the deal were not disclosed.

Emersion International Limited (EIL) is a global holding company of outdoor brands. 

Related stories: 

Niner sale delayed as new bidder emerges: Jan. 16., 2018 

No new Niner bidders appear, sale scheduled for next week: Jan. 12, 2018

Niner assets to be sold this month: Jan. 5, 2018 

Niner files for bankruptcy ahead of planned sale: Nov. 27, 2017



Topics associated with this article: Mergers & Acquisitions

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